I think the first tranche ($5m annualised revenue) is still pretty certain of being hit. They reported just short of $1.5m revenue for last quarter. They would only need $1m of revenue for this quarter to hit the $2.5m needed over the six month period to achieve tranche 1.
I would still expect this quarter to still see a higher revenue figure than last quarter.
Things are playing out a little slower (short term) than expected. I guess the positive for us is that their may be less dilution that we had expected.
ISX Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
